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Three Pros and Cons of Using Bitcoin For Your Business

business2community.com / By Mars Dorian / November 13, 2013

Imagine if you could have 100% control over your money, pay every person on the planet in seconds, even if they don’t own a bank account, with almost zero fees and absolute freedom?

Sounds like a cheesy ad for a sleazy bank, but the vision is more real than you think. I’m talking about an innovation called Bitcoin. Since most of us work digitally, why do we cling to currencies that belong to the physical world?

What is Bitcoin (explanation)
First of all, let’s define Bitcoin. It’s an encrypted digital currency that gets distributed peer-to-peer. It functions without a central authority and works everywhere you can access the web.

But why use it ?

A few weeks ago, curiosity washed all over me. A friend of mine cajoled me into visiting the official Bitcoin Exchange of Berlin. I had heard about Bitcoin before, but I thought it was for digital freaks who lived at the periphery.

Boy was I wrong.

I had no idea about the global economy that sprang from this digital currency. Heck, I even met one of the co-developers who programmed the Bitcoin Wallet app (that day, he bought Bitcoins worth over 1,500 € ($2,025), I was sweating waterfalls just seeing that happening.)

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